Most Mobile Banking Consumers Use Payment Apps to Pay Bills
Nearly three-quarters of mobile banking app users use a mobile payment app to pay a bill, according to February 2016 research. That’s about three times as many as use one to send money to a friend.
S&P Global Market Intelligence surveyed 3,897 adult US mobile banking app users. According to the data, 73% said they use mobile payment apps to pay a bill. Some 41% of mobile banking app users use one to pay for retail purchases, by either waving or tapping their phone.
Additionally, more than a third of respondents said they use mobile payment apps to collect or use reward points, and 23% use them to send money to a friend.
Separate research from Fiserv found that more users are paying bills via mobile than a few years ago. In fact, one-third of US internet users say they pay bills via mobile devices. That’s up from 6% in 2011 and 27% in 2014.
While growth has been fairly steady over the past five years, the major shift in mobile device bill pay usage came from 2013—16% of those surveyed—to 2014—27%.